Customers Bancorp’s (CUBI) “Equal Weight” Rating Reiterated at Stephens

Stephens restated their equal weight rating on shares of Customers Bancorp (NYSE:CUBI) in a report issued on Friday morning,Benzinga reports. They currently have a $58.00 price objective on the bank’s stock.

CUBI has been the subject of a number of other research reports. Piper Sandler decreased their target price on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th. B. Riley upped their price objective on shares of Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 4th. Keefe, Bruyette & Woods raised their target price on shares of Customers Bancorp from $52.00 to $62.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Raymond James lowered their price target on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 2nd. Finally, StockNews.com upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, December 1st. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.56.

Customers Bancorp Stock Up 14.1 %

CUBI stock opened at $57.46 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. Customers Bancorp has a 52 week low of $42.31 and a 52 week high of $68.49. The stock has a market capitalization of $1.80 billion, a PE ratio of 9.33 and a beta of 1.68. The firm has a 50 day moving average of $51.41 and a 200 day moving average of $51.01.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. Sell-side analysts forecast that Customers Bancorp will post 5.63 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Robert Neil Mackay sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $53.78, for a total value of $215,120.00. Following the transaction, the director now directly owns 4,567 shares of the company’s stock, valued at approximately $245,613.26. This trade represents a 46.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Glenn Hedde sold 5,002 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total value of $268,507.36. Following the sale, the insider now owns 66,256 shares of the company’s stock, valued at approximately $3,556,622.08. This trade represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,440 shares of company stock valued at $5,425,815. 6.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On Customers Bancorp

A number of institutional investors have recently added to or reduced their stakes in CUBI. CWM LLC increased its stake in shares of Customers Bancorp by 14.2% in the 3rd quarter. CWM LLC now owns 2,198 shares of the bank’s stock worth $102,000 after acquiring an additional 274 shares during the last quarter. GAMMA Investing LLC increased its position in Customers Bancorp by 21.7% during the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after purchasing an additional 282 shares during the last quarter. SG Americas Securities LLC raised its stake in Customers Bancorp by 6.3% during the fourth quarter. SG Americas Securities LLC now owns 5,579 shares of the bank’s stock worth $272,000 after purchasing an additional 333 shares during the period. Mackenzie Financial Corp boosted its holdings in Customers Bancorp by 10.4% in the 2nd quarter. Mackenzie Financial Corp now owns 5,850 shares of the bank’s stock valued at $281,000 after purchasing an additional 549 shares during the last quarter. Finally, Basswood Capital Management L.L.C. purchased a new stake in shares of Customers Bancorp in the 3rd quarter valued at approximately $26,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

About Customers Bancorp

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.